forexqueenpk

forexqueenpk

AS #GBPUSD is struck in a triangle formation on 4 hour charts It looks like that now is ready to continue its slide further. A break above 1.2520 is needed to negate the bearish outlook while a break below 1.2430 will add further pressure on the downside.

forexqueenpk

Looks an interesting development as #EURUSD looks ready for a bounce from current price 1.0650, Risk is only if falls below 1.0610 #forex

forexqueenpk

With resistance100.70 #usdollar looks ready for next leg down, break below 100.20 can trigger quick fall #Forex #forexsignals #forextrading

forexqueenpk Updated 

GOLD extended its decline from our initial target area 1210 to our secondary target area 1190. Despite being in bearish trend I expect gold to bounce to 1225-35 area from 1193 which is 50% retracement of the move from 1120 to 1263. Risk of further decline towards 1175 only if Gold fail to hold above 1190.

forexqueenpk

Couple of sessions back US Dollar Index manage to break the trend line support at 101.45 and fall to next support at 100.80 which caused a bounce. that bounce is resulting as a test of broken support as a resistance now around 101.70-80 level. Ahead of FOMC later today this level looks very critical as if US Dollar index failed to take out this resistance it is...

forexqueenpk

Since #Gold break the #Trendline support downside pressure keeps the gold bulls checked. A bounce towards 1245-50 could be a selling opportunity ahead of FOMC.

forexqueenpk

#EURUSD reached around our target 1.0480-90 yesterday and bounced a bit. the bounce failed to make a positive impression and risk remains for further downside extension towards 1.0440 at least as $EURUSD remains under pressure with resistance at 1.0530-1.0560 area.

forexqueenpk

Gold failed to bounce as i expected and extended its slide to close below the trend line support from 1120 low. This break below the trend line shows the possibility that downside move can extend further towards 1210-1190-1175 area. While the resistance at 1236-1240 looks strong for the moment.

forexqueenpk Updated 

#EURUSD Bulls looks exhausted, if fail to take out 1.0620-30 $EURUSD will Fall back again towards 1.0480. #FOREX, #CURRENCIES, #FXQRESEARCH

forexqueenpk

Yesterday #Gold break below the 1240 #support (#endingdiagonal) but managed to bounce back. I already expect Gold to start its major #correction for the move started 1120 but before that one last leg up is still in play (because of ending diagonal #elliotwave pattern). yesterday break of the support indicate that the fall may come quicker than we expect and #Gold...

forexqueenpk

With reference to my previous updates, GOLD has now reached around 1240.00, (support for ending diagonal). From this point Gold is expected to make its last attempt higher which could lead Gold Price towards 1270-75 area to complete the 5 wave pattern (started from the low around 1120) before starting the major correction.

forexqueenpk

Gold reached our targeted area 1255-1260 which we anticipated 3 days back. As we anticipated ending diagonal formation we now expect a dip towards 1245-48 and than a rise to 1260's starting its next major leg down.

forexqueenpk Updated 

$GOLD can bounce to 1255 from current levels, risk is only if #Gold falls back below 1216.00. #FXQRESEARCH

forexqueenpk

It looks like that an Inverted Head&Shoulder pattern is under development on intra day charts (60 Min) for $EURUSD, break above 1.0570 can lead #eurusd to move quickly towards 1.0670-80 #FXQRESEARCH, #FOREX.

forexqueenpk

Look for a quick bounce back in #EURUSD as AB=CD pattern is competed in Intra day charts. Risk is only if $EURUSD falls below 1.0480.

forexqueenpk

Since Cable failed to break on the higher side, #gbpusd is trading in a range between 1.2350-1.2680. in between this range cable and now formed a symmetrical triangle and it seems that pressure towards downside is increased. A break below support @ 1.2380-90 area can add further pressure to take the $GBPUSD down towards 1.2250. while the resistance remains strong...

forexqueenpk

Last week in my update on US “dollarindex” I mentioned the expectations of a recovery bounce towards 101.80-102.20 to cover the immediate losses before starting its next leg downside. Since then Dollar managed to bounce and reached our targeted range. Pressure remains on the downside as fundamental outlook for Dollar remain uncertain despite “Janet Yellen” gave...